Dorman Products (NASDAQ:DORM) Announces Quarterly Earnings Results

Dorman Products (NASDAQ:DORM) issued its quarterly earnings data on Thursday. The auto parts company reported $1.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.48, Briefing.com reports. The firm had revenue of $502.95 million during the quarter, compared to analysts’ expectations of $497.46 million. Dorman Products had a net margin of 8.75% and a return on equity of 16.12%. The business’s revenue was up 4.7% on a year-over-year basis. During the same period last year, the company earned $1.01 earnings per share. Dorman Products updated its FY24 guidance to $6.00-6.20 EPS and its FY 2024 guidance to 6.000-6.200 EPS.

Dorman Products Stock Performance

DORM stock traded up $4.26 during midday trading on Friday, hitting $102.84. The company’s stock had a trading volume of 217,052 shares, compared to its average volume of 137,695. The stock has a market cap of $3.19 billion, a price-to-earnings ratio of 20.69 and a beta of 0.82. The company has a quick ratio of 1.17, a current ratio of 2.50 and a debt-to-equity ratio of 0.40. The stock’s 50-day moving average price is $93.82 and its 200 day moving average price is $90.71. Dorman Products has a 1 year low of $60.01 and a 1 year high of $104.96.

Insider Activity

In related news, SVP Donna M. Long sold 500 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $92.06, for a total transaction of $46,030.00. Following the completion of the transaction, the senior vice president now owns 20,126 shares in the company, valued at $1,852,799.56. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, SVP Donna M. Long sold 500 shares of the stock in a transaction on Friday, May 10th. The stock was sold at an average price of $92.06, for a total transaction of $46,030.00. Following the completion of the transaction, the senior vice president now owns 20,126 shares in the company, valued at approximately $1,852,799.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Jeffery Darby sold 1,400 shares of the company’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $98.98, for a total transaction of $138,572.00. Following the sale, the senior vice president now directly owns 25,071 shares in the company, valued at $2,481,527.58. The disclosure for this sale can be found here. Insiders own 10.00% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Roth Mkm reaffirmed a “buy” rating and set a $116.00 target price on shares of Dorman Products in a research report on Friday, June 14th.

About Dorman Products

Dorman Products, Inc supplies replacement and upgrade parts for passenger cars, light trucks, medium- and heavy-duty trucks, utility terrain vehicles, and all-terrain vehicles in the motor vehicle aftermarket industry in the United States and internationally. It offers engine products, including intake and exhaust manifolds, fans, thermostat housings, and throttle bodies; undercar products comprising fluid lines, fluid reservoirs, connectors, 4-wheel drive components and axles, drain plugs, other engine, and transmission and axle components; steering and suspension products consist of control arms, ball joints, tie-rod ends, brake hardware and hydraulics, wheel and axle hardware, suspension arms, knuckles, links, bushings, and leaf springs, as well as other suspension, steering, and brake components; body products, such as door handles and hinges, window lift motors, window regulators, switches and handles, wiper components, lighting, electrical, and other interior and exterior vehicle body components, including windshields for UTVs; electronics products comprise new and remanufactured modules, clusters and sensors; and hardware products, such as threaded bolts and auto body fasteners, automotive and home electrical wiring components, and other hardware assortments and merchandise.